Wave Life Sciences (NASDAQ:WVE) Earns “Buy” Rating from HC Wainwright

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $22.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 59.07% from the company’s previous close.

Several other brokerages have also commented on WVE. JPMorgan Chase & Co. lifted their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. B. Riley boosted their target price on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.44.

Wave Life Sciences Stock Up 0.9 %

Shares of Wave Life Sciences stock opened at $13.83 on Thursday. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $15.92. The business has a 50 day moving average price of $8.71 and a 200-day moving average price of $6.77. The company has a market cap of $1.73 billion, a PE ratio of -24.05 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. During the same quarter in the prior year, the company earned ($0.20) EPS. As a group, research analysts anticipate that Wave Life Sciences will post -1.01 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 364,822 shares of company stock valued at $4,645,768. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of Wave Life Sciences during the second quarter valued at approximately $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Finally, Mackenzie Financial Corp lifted its stake in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.